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KBW, an investment banking and financial services research firm specializing in the insurance industry, said the mid-year catastrophe reinsurance renewal environment was more challenging for sellers, with pricing down nearly 20% to 15%, particularly for Florida-focused business, while terms and conditions (T&Cs) were seen to remain largely unchanged. This conclusion follows a semi-annual trip to…
Willis, a WTW company, announced three leadership appointments at FINEX North America to strengthen its network strategy and client engagement capabilities. Annie Ma has been appointed as FINEX North America Network Director. In this role, she will set the strategic direction for the cyber practice and oversee day-to-day management in the United States, Canada and…
Accenture’s Stefan Sieger and Jeevan Thangudu believe that despite strong earnings and well-capitalized balance sheets, many reinsurers are still struggling to translate favorable market conditions into sustainable earnings growth and fully realize the value of artificial intelligence. The constraints, they argue, are no longer capital, capabilities or risk appetite. Rather, it lies in operational inertia:…
India-focused reinsurance platform Niyam Group has announced the appointment of Ruchi Sheth as Director Marine & Energy. Sheth brings over 23 years of experience in the general insurance sector to her new role, combining deep underwriting expertise in marine and energy with strong commercial acumen. The executive will lead Niyam Syndicate 2047’s marine and energy…
Heritage Insurance Holdings, Inc., a super-regional property and casualty insurance holding company, has confirmed the completion of its 2026-2027 indemnity-based catastrophe excess loss reinsurance program for its insurance subsidiaries Heritage Property Casualty Insurance Company, Narragansett Bay Insurance Company and Zephyr Insurance Company. The overall combined cost of the program is expected to be approximately $367.5…
Universal Insurance announced the completion of the 2026-2027 consolidated reinsurance program for its wholly-owned insurance subsidiaries, effective June 1, 2026. Two subsidiaries, Universal Property & Casualty Insurance Company (UPCIC) and American Platinum Property & Casualty Insurance Company (APPCIC), set the combined reinsurance tower top for a single statewide (including Florida) campaign at $2.623 billion, an…
European mid-market private equity firm Inflexion, through its buyout fund VI, has invested in Mittelstands-Assekuranz-Partner (MAP), a new German multi-specialty insurance brokerage. To immediately scale up, Düsseldorf-based Cremer Assekuranz has joined MAP as its first strategic partner. Founded by industry veterans Mathias Pahl and Markus Hausberger, MAP is a Munich-based multi-specialty insurance brokerage that aims…
Newport Specialty Partners, a specialty insurance platform that works with managing general agents (MGAs) and program administrators, has appointed Mary Sbaschnig as its new chief operating officer and chief information officer. Sbaschnig will be responsible for leading the company’s operational and technology strategy to continue expanding its platform and supporting partner businesses. Her responsibilities include…
Liberty Mutual Insurance has launched a “first-of-its-kind” conversational AI auto insurance quoting app powered by carriers, enabling ChatGPT users to receive quotes in minutes through chat-based interactions rather than traditional online forms. According to the company, the seventh-largest auto insurance company in the United States can now provide quotes through the app in ChatGPT to…
Nationwide, a Columbus-based U.S. diversified financial services and insurance company, has entered into an agreement with mutual life insurance company MassMutual to reinsure a group of fixed universal life policies with a total face value of nearly $16 billion. The policies cover more than 30,000 policyholders and will add $6 billion to Nationwide Financial’s reserves….